2019-12-18 12:25:00
ARAMCO'S INVESTMENT FOR HYUNDAI $1.2 BLN
SAUDI ARAMCO - December 17, 2019 - Saudi Arabian Oil Company (Saudi Aramco) has completed, through its subsidiary Aramco Overseas Company B.V. (AOC), the acquisition of 17% of Hyundai Oilbank from Hyundai Heavy Industries Holdings, for approximately US$1.2 Billion. The completion follows receipt of all necessary regulatory consents and approvals.
The investment in South Korea's Hyundai Oilbank supports Saudi Aramco's Downstream growth strategy of expanding its global footprint in key markets in profitable integrated refining, chemicals and marketing businesses which enable Saudi Aramco to place crude oil and leverage its trading capabilities.
Hyundai Oilbank is a private oil refining company established in 1964. The Daesan Complex, where Hyundai Oilbank's major facilities are located, is a fully integrated refining plant with a processing capacity of 650,000 barrels per day. The business portfolio of Hyundai Oilbank and its five subsidiaries includes oil refining, base oil, petrochemicals and a network of gas stations.
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Earlier:
2019, December, 16, 13:10:00
SAUDI ARAMCO $2 TLN
Saudi Aramco (2222.SE) hit the $2 trillion target sought by de-facto Saudi leader Crown Prince Mohammed bin Salman on Thursday as its shares racked up a second day of gains, despite some scepticism about the state-owned oil firm’s value.
2019, December, 13, 10:35:00
SAUDI ARAMCO LISTED $25.6 BLN
The Kingdom of Saudi Arabia sold 3 billion shares (excluding any exercise of the Purchase Option), equivalent to 1.5% of the Company’s share capital. Priced at the top of the indicated range, the Offering generated proceeds of SAR96.0 billion / USD25.6 billion (assuming no exercise of the Purchase Option), making it the world’s largest IPO.
2019, December, 11, 09:55:00
ARAMCO'S IPO $25.6 BLN
This would make Aramco's listing the world's largest, beating Alibaba's $25bn IPO at $25.6bn.
2019, December, 4, 11:50:00
SAUDI ARAMCO IPO $44.3 BLN
In total, the Saudi government plans to sell 0.5% of Aramco to individual investors and the remainder to domestic institutions and international firms registered in the kingdom, known as qualified foreign investors.
